12 Mar.

Economic effects and the business response

Thursday, 01:00 p.m. | 1 hr

An update on the economic effects of COVID-19 and the business response.

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Dr Jane Halpin, Clinical Lead, presented the current picture of the COVID-19 global outbreak, highlighting the accelerating spread of the virus outside China and the way in which fatality rate rises with age. She concluded that increasing and sustained restrictions on movement will be a key weapon in combating the predicted peak in cases.

Ian Stewart, Chief Economist, said that activity across most Western countries will see a major contraction in March and Q2. The policy response is coming, and will be very substantial, with fiscal policy dominating. Recessions are likely in many countries, but the most likely outcome is for a resumption of activity in 2020H2.

Tim Johnson, Risk Advisory Partner, Crisis Management, examined the leadership aspects of the crisis, stressing the need to provide stakeholders with timely, accurate information, to have an inclusive approach to planning and to rigorously test decisions against a range of scenarios.

Andrew Grimstone, Financial Advisory Partner, recommending that leaders be relentless in implementing near-term actions, proactively engage with key stakeholders and keep focused on the medium term.


Karen Taylor

Karen Taylor


Karen is the Research Director of the Centre for Health Solutions. She supports the Healthcare and Life Sciences practice by driving independent and objective business research and analysis into key industry challenges and associated solutions; generating evidence based insights and points of view on issues from pharmaceuticals and technology innovation to healthcare management and reform. Karen also produces a weekly blog on topical issues facing the healthcare and life science industries.

Ian Stewart

Ian Stewart

Partner and Chief UK Economist

Ian Stewart is a Partner and Chief Economist at Deloitte where he advises Boards and companies on macroeconomics. Ian devised the Deloitte Survey of Chief Financial Officers and writes a popular weekly economics blog, the Monday Briefing. His previous roles include Chief Economist for Europe at Merrill Lynch, Head of Economics in the Conservative Research Department and Special Adviser to the Secretary of State for Work and Pensions. Ian was educated at the London School of Economics.

Tim Johnson

Tim Johnson

Lead Partner, Crisis & Resilience

Tim is a crisis, issues and reputation management specialist and a partner in Deloitte’s specialist Crisis and Resilience practice. He has worked all over the world helping clients improve their crisis management and crisis communication preparedness. He has also helped clients respond to threats ranging from allegations of fraud and malpractice, industrial accidents leading to multiple fatalities, cyber breaches, litigation, sensitive asset divestments, organisational restructuring and supply chain failures. His clients have included energy majors, travel companies, global pharmaceutical companies, international defense contractors and central banks. Tim has particular experience of advising senior executives during crises on their broadcast interviews and other public appearances as well as on the effective execution of their wider leadership responsibilities. Tim was chief operating officer of specialist crisis management consultancy, Regester Larkin, prior to its acquisition by Deloitte in 2016. Tim’s book, ‘Crisis Leadership’ was published by Bloomsbury in 2017.

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Thursday, 12 Mar 2020 01:00 p.m.
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